Tata Power FY-01 net at Rs 3896 million

Tata Power Company Ltd has posted a net profit of Rs 3896 million for the financial year ended March 31, 2001 as compared to Rs 2320.30 million in the corresponding period last fiscal. Total Income for the year ended March 31, 2001 is at Rs 36506.60 million as compared to Rs 15709.30 million in the corresponding period last fiscal. The financial results for the year ended March 31, 2001 represents the results of the merged entity consequent upon the Amalgamation of The Andhra Valley Power Supply Co. Ltd and The Tata Hydro-Electric Power Supply Co. Ltd with the Company effective April 1, 2000 whereas the financial results for the year ended March 31, 2000 represents the results of The Tata Power Co. Ltd (without amalgamation) and hence are not comparable. During the year the Company acquired 100% Equity stake in Tata Petrodyne Limited a Company engaged in oil and gas exploration and production which has established very encouraging prospects of commercially exploitable gas and oil reserves. Consequent upon the merger Chemical Terminal Trombay Limited (CTTL) has become a subsidiary of the Company (Tata Power holding 72%). CTTL is engaged in the business of storing and handling of oils and chemicals. Similarly, Af Taab Investment Company Limited became a subsidiary of the Company, consequent upon the merger The Company's new thrust was initiated in communication business by implementing the project for completing Mumbai Fibre Optic Network. This project will be commissioned by August 2001. The Board of Directors has recommended a dividend of 50% as compared to 42% last year.

Motherson Sumi FY-01 net at Rs 164.9 million, declares 40% dividend

Motherson Sumi Systems Ltd has posted a net profit of Rs 164.9 million for the year ended March 31, 2001 as compared to Rs 159.82 million in the corresponding period last fiscal. Total Income for the year ended March 31, 2001 is at Rs 2352.49 million as against Rs 1617.69 million in FY-00 In view of amalgamation of Motherson Auto Components Engineering Limited with Motherson Sumi Systems Limited w.e.f. April 1, 2000, figures for the current year are not comparable to those of the previous year. The Board of Directors has recommended a dividend @ 40% (Rs 4/- per share) for the year ended March 31, 2001.

Escorts FY-01 net down by 4.41%

Escorts Ltd has posted a net profit of Rs 1073.90 million for the financial year ended March 31, 2001 as compared to Rs 1123.50 million in FY-00. Total Income for the financial year ended March 31, 2001 is at Rs 14065.10 million as compared to Rs 13912.70 million in the corresponding period last fiscal. The Board of Directors of the company has recommended a dividend of 45% (Rs 4.50 per equity share) for the year ended March 31, 2001.

Infosys Q1 results on July 10, 2001

A meeting of the Board of Directors of Infosys Technologies Ltd has been convened on July 10, 2001 to consider among other things, taking on record the quarterly results of the company for the first quarter ending June 30, 2001.

Bharat Electronics to consider recommendation of dividend

A meeting of the Board of Directors of Bharat Electronics Ltd will be held on July 2, 2001 to consider the accounts for the year 2000-2001 and for recommending dividend to equity shareholders of the company. The accounts/dividend recommended at this meeting would be subject to Government Audit.

Mico to shut Naganathapura plant for 4 days

Motor Industries Co Ltd has decided to continue at its Naganathapura plant 5 days working week, which was introduced with effect from May 05, 2001. In addition the Naganathapura plant of the company will not work for 4 days from June 20, 2001 to June 22, 2001 and June 26, 2001. Drastic reduction in the call-off from its customers has necessitated this step by the company.

Indo National Q4 net up by 5.36%, FY-01 net down by 42.19%

Indo National Ltd has posted a net profit of Rs 15.70 million for the quarter ended March 31, 2001 as compared to a net profit of Rs 14.90 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 471.70 million as compared to Rs 510 million in MQ 2000. The company has posted a net profit of Rs 89.60 million in the year ended March 31, 2001 as against Rs 155 million posted in the corresponding period last fiscal. Total Income for the year ended March 31, 2001 is at Rs 2140.30 million as against Rs 2227.30 million in FY-00. A dividend of 100% (previous year 80%) has been recommended by the Board for the year ended 31st March, 2001. There is negative growth in the Dry Cell Battery Industry. Hence the sales of the Company are lower and profits are also lower due to increase of various input costs.

Indal clarifies on news item

With reference to the news article appearing in a leading financial daily titled " Indal plans to divest holding on ailing affiliates" Indian Aluminium Co. Ltd has informed BSE that both the Companies i.e. Orissa Extrusions Ltd and Annapurna Foils Ltd where the Company holds 26% and 26.5% respectively, are BIFR companies. Plans for future operations of both the Companies have yet to be finalised and will definitely be placed at a meeting of the Board of Directors before implementation.

Fitch assigns D-1rating to Birla Global Fin commercial paper programme

Birla Global Finance Ltd has informed BSE that FITCH Rating India has assigned an Ind D-1 rating to the Rs.300 million Commercial Paper programme of the company.

Odyssey Technologies to seek shareholders approval for issue of equity shares on preferential basis

The Board of Directors of Odyssey Technologies Ltd at its meeting held on June 19, 2001 took the following decisions: 1. The authorised capital of the Company is proposed to be increased from Rs 60.00 million to Rs 80.00 million 2. Amendments to the Memorandum & Articles of Association in connection with the increase in authorised capital have been proposed. 3. 50000 equity shares of Rs 10 each were allotted to the warrant holders on conversion of 50000 share warrants. 4. Issue of 961500 equity shares of Rs 10 each at a premium of Rs 42 per share on preferential basis to ICF (Mauritius) Ltd., a company incorporated in Mauritius was recommended to the shareholders. 5. Issue to 600000 share warrants of Rs 52 each with an option to convert into 600000 equity shares of Rs 10 each at a premium of Rs 42 per share within a period of 18 months from the date of allotment of warrants of Mr B Robert Raja and M/s Cyberneme Private Ltd, the main promoter of the Company was recommended to the shareholders. 6. Issue of 1000000 equity shares of Rs 10 each either by way of rights or preferential issue to persons other than the existing shareholders of the Company at a price fixed as per SEBI guidelines was also recommended to the shareholders. An EGM of Odyssey Technologies Ltd. is scheduled to be held on July 16, 2001 for obtaining the shareholders approval for the aforesaid purposes

Nocil FY-01 results on June 28, 2001

A meeting of the Board of Directors of National Organic Chemical Industries Ltd is scheduled to be held on June 28, 2001 to consider the audited accounts of the Company for the year ended March 31, 2001.

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